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Development of Smart Cities Propelling the Growth of Smart Lighting Market

Smart lighting systems are integrated with a number of sensors and wireless technologies and are capable of decreasing the energy consumption significantly. In terms of source, the smart lighting market is categorized into LED, high intensity discharge lamp, and fluorescent lamp, among which, the LED accounted for the major share of the market in 2016 and is further predicted to advance at the fastest pace during the forecast period. This is majorly because of the fact that with LED-based smart lighting solutions, the user can control the light digitally.

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On the basis of wireless communication, the smart lighting market is divided into Zigbee, Bluetooth, Wi-Fi, and others, out of which, the Wi-Fi division dominated the market in 2016. The division is further projected to progress at the fastest pace during the forecast period. When service is considered, the industry is bifurcated into lighting as a services (LaaS) and smart phone application. Between these two, the smart phone application bifurcation is predicted to hold the larger share of the market during the forecast period. 

  Geographically, Europe has been the largest smart lighting market in 2016. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period, which can be ascribed to the swift digitalization in industries, innovations in smart lighting technologies, growing investments in the industry, and increasing adoption of connected technologies in indoor and outdoor settings. In addition to this, the adoption of these lighting systems is also increasing in the region because of the advancements being witnessed in regards of IoT and enhancement in the network infrastructure.

This market research report provides a comprehensive overview of the smart lighting market
  • Historical and the present size of the smart lighting market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
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